sorry but i don't think it was simply traders taking advantage of a bad day. that doesn't make sense anyway. look at the volume. there is a selloff occurring and TNK performed twice as bad as the DJI - which was horrible.
despite TNK pulling me down today, i was still able to outperform the nasty market. that is important to me since if i don't beat the DJI i may as well be in mutual funds or ETF's.
am still up 6% with TNK and dividends hit my accounts today which helped (despite the pedestrian yield).
holding out for better days.
while i get hammered by TNK beatdown, here is what helps tp offset those losses...
1. MBT a Russian telecommunications company. a Buy (IMO) due to Russian ecomony being hurt by low oil prices and current exchange rate for US dollar and Russian Rouple. Company oversold.
2. as posted, i opened a position with NSH. a storage company for oil and LNG. again oversold.
3. just re-opened a position with ETP. again oversold.
all 3 have are great income stocks with stellar yields. all 3 should give nice short term capital gains. all 3 coming thru today despite market selloff. i don't intend to increase those positions and have nothing to gain by others buying.
do your own DD but believe you will find them attractive and money makers. i have.
TNK? IMO being sold off due to what comes post ER on May 13th. current drop to shareprice making me wrong. still, i will hold for now....
you seem a decent chap so let me explain...
i am not bashing TNK as Kosmic states. TNK getting clobbered ahead of earnings report for a reason. PPS is predicated on forward looking metrics - not the past. IMO, i believe TNK will have a stellar 2015 Q1 earnings report but i submit that that is common public knowledge and is already baked into the shareprice. no secret there. the EPS estimate consensus = $0.343 with an estimate range of $0.21 - $0.43. 2014 Q1 = $0.20. like Kosmic states, i too think TNK will beat projections. current shareprice depicts that. we will know more on the May 13th earnings release. current shareprice is predicated post ER for 2015 Q2.
what i have a problem with is pumping. there is enough fraud perpetrated in the markets - particularly by investment houses and analysts. Raymond James being notorious and GS being infamous. no individual investor should post pro-company rhetoric, and no company shills should post propaganda without being challenged by individual investors who know pumpers and shills for what they are. the same holds true for Shorts posting false rumors (particularly with small cap stocks). That last statement is actually illegal and a perpetrator is subject to prosecution.
i also have a problem with internet bullying and name calling (like basher or gonad). intolerable.
i am retired and count on dividends and distributions to supplement my meager retirement incomes and identify with others in the same boat. we need to look out for one another. we strive to protect our standard of living and attempt to leave something behind us to make life easier than we had it for our heirs.
lastly, i hope you profit, and prosper, with your investments and hope that Kosmic does too. however, i will continue to post the truth whether someone likes it or not. sometimes that means taking a step down to deal with on their own level.
sure dodged this bullet. had closed my CTCM position at 3.85 and had been lamenting that play. not after today's report. they scratched the dividend. profits down 50%. wow. couple that with Russian cap on foreign ownership and CTCM doomed. surprised that PPS hasn't fallen further than 13%. i bet it does tho and this is a good position to short.
Sentiment: Strong Sell
yeah - ugly. down today over 3%. everyone thought that er would be so strong, PPS would be up 3%. apparently someone either thinks the er won't be that strong or believes that next Q will be weak. try figuring that out. don't be such a pumper...
last couple days were ugly. TNK PPS underperforming market. selling going on in anticipation of earnings report? most likely. nonetheless, i remain optimistic and will hold thru ER. also just started a position with NSH. may as well bet on dry land LNG and oil storage as well as the tankers.
ah, sometimes you gotta admit the mistake. more important is to do something about it. closed 2 positions and bought back into NSH. fundamentals should be good as the oil glut serves NSH well. shareprice (IMO) reflects an oversold position simply because NSH is involved with oil and energy stocks and got an undeserved black eye. would have realized a 12% gain had i not sold a month ago. yield is quite nice too.
ok. let's see....
closed MIFI position at 6.31$ along with BKCC (a BDC). immediately bought NSH @ 39.24$. sometimes enough is enough. won't ride them down. all 3 trades worked out (so far). can enjoy a nice yield with NSH vs. nothing with MIFI.
wish all you longs well as i think you will need it here.
Sentiment: Strong Sell
you're getting your wish. down from 6.72 earlier this a.m. to 6.56. that equates to a .46% in an up market. there's your pullback but, hold tight, i think it'll get more attractive. oops - just did. now 6.55 lol.
true that. Yahoo Finance can't be trusted when it comes to listing dividends. be aware tho that MAIN dividends are treated by IRS as ordinary income.
TTC generally trades right along with the DJI. very predictable. will await the May 21st earnings report. hopefully that provides a push to the shareprice. quiet message board too...
lol. i can relate. am debating on taking profits with big jump to MIFI. one few patterns i do believe in is that rising equities (over and above the market) continue to rise and falling equities continue to drop - at least in the short term. i pay attention to that short term trend on speculative positions such as MIFI. i call it riding the wave. i give little credence to the head-and-shoulders or cup-and-handle type theories. have seem them fail way too often.
yahoo's service continues to decline. they are too interested in pursuing "what's next" than improving and maintaining existing product. as they chase new markets, they lose market share those existing products. not a unique scenario for tech companies. their email product has worsened too.
i had positions in both CTCM (Russian media) and MBT. i subsequently took some profits and closed both but, after a dip, opened another position in MBT but not with CTCM due to the Russian foreign ownership caps.
am letting MBT run but apparently made the wrong choice as CTCM up 15% since my sell and MBT down 2.75% since buying back in.
my justification for MBT was that they were oversold due to oil prices (impacts the whole Russian economy) and the strong dollar/weak ruble. thought equilibrium would reduce the dollar and that the ruble surely must improve. isn't happening - yet.
my question for you... "What keeps you long on MBT?" have you a theory or premise to share?
i am definately not competing with the resident windbag. my "competition" seems to be with Uncle Sam who just finished taking a big bite out of me for 2014 income.
as for NMFC, i find them very interesting. big Q4 loss reported last month with a miss on Wall St expectations yet weathered that storm nicely. great yield and intact. admittedly, i don't follow them and profess to know little of their portfolio. however, if you want opinions and thoughts on them from BDC disciples, take a trip to the message board for FSC. i guarantee you will get results there. a very active message board and unbiased. you won't get that type feedback on MAIN message board.
i do follow Ford Equity Research and this is a brief synopsis of their NMFC opinion...
Ford's Hold recommendation on New Mountain Finance Corp is the result of our systematic analysis on three basic characteristics: earnings strength, relative valuation, and recent stock price movement. The company has suffered a very negative trend in earnings per share over the past 5 quarters and while recent estimates for the company have remained steady, NMFC has posted results that fell short of analysts expectations. Based on operating earnings yield, the company is undervalued when compared to all of the companies we cover. Share price changes over the past year indicates that NMFC will perform in line with the marketover the near term.
GL to you as well....